Target Corporation $TGT Stake Lessened by Nicholas Company Inc.

Nicholas Company Inc. cut its stake in Target Corporation (NYSE:TGT) by 22.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 47,876 shares of the retailer’s stock after selling 14,035 shares during the period. Nicholas Company Inc.’s holdings in Target were worth $4,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TGT. Brighton Jones LLC boosted its holdings in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after acquiring an additional 3,059 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Target in the first quarter valued at approximately $50,000. Teacher Retirement System of Texas grew its stake in shares of Target by 306.5% in the 1st quarter. Teacher Retirement System of Texas now owns 172,513 shares of the retailer’s stock worth $18,003,000 after purchasing an additional 130,078 shares during the last quarter. Avantax Planning Partners Inc. raised its holdings in shares of Target by 9.0% in the 1st quarter. Avantax Planning Partners Inc. now owns 12,926 shares of the retailer’s stock worth $1,349,000 after purchasing an additional 1,069 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in shares of Target by 9.7% in the 1st quarter. IFM Investors Pty Ltd now owns 96,388 shares of the retailer’s stock worth $10,059,000 after purchasing an additional 8,529 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

Target stock opened at $92.92 on Friday. The firm’s 50 day simple moving average is $91.37 and its 200-day simple moving average is $96.43. The company has a market cap of $42.22 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is 53.15%.

Analyst Ratings Changes

TGT has been the topic of a number of research reports. BTIG Research initiated coverage on shares of Target in a report on Tuesday, October 14th. They issued a “neutral” rating on the stock. Loop Capital set a $95.00 target price on shares of Target in a report on Thursday, July 17th. Jefferies Financial Group dropped their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Citigroup boosted their target price on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Finally, Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $109.00.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.